LNG exporter Sonatrach boosts earnings as Algeria helps advance Trans-Saharan Gas Pipeline to Europe
Algerian energy company and LNG exporter Sonatrach is on track to make $50 billion record earnings this year and the North African nation also attended talks during the week on the 4,000-kilometre Trans-Saharan Gas Pipeline (TSGP) from Nigeria via Algeria to bring African natural gas to Europe.
Nigeria LNG accord
March 3 (LNGJ) - Nigerian Minister of State for Petroleum Resources Timipre Sylva signed an agreement with his counterpart from Equatorial Guinea, Gabriel Mbaga Obiang Lima, in the Nigerian administrative capital Abuja to cooperate on LNG. A statement from the Nigerian ministry said the memorandum of understanding is part of the West African nation’s strategy to prepare for the “decade of gas” by increasing export infrastructure.
The accord could lead to an agreement whereby Nigerian feed gas could be liquefied and exported from the Equatorial Guinea LNG plant on Bioko Island. “Nigeria has huge gas resources, a significant amount of which is offshore and will require unprecedented investment in infrastructure to bring them to market,” said Sylva.
